Section 66A(3) in U.P. Zamindari Abolition and Land Reforms Rules, 1952
(3)Interest on a stock certificate shall be paid annually on the completion of each period of twelve calendar months from the date of vesting :Provided that if one or more annual payments of interest have already fallen due before the delivery of the stock certificate, they shall be payable immediately after the delivery of the stock certificate to the waqf, trust or endowment:[Provided further that any amount paid to a waqf, trust or endowment on account of interim interest under Rule 55-B shall be adjusted by the Compensation Officer prior to the indenting of stock certificate under Rule 70, against interest for such number of whole years commencing from the date of vesting accruing on the amount of compensation payable in stock certificate as shall satisfy the amount of interim interest aforesaid. Any residual amount of interim interest, which cannot be adjusted against interest accruing on the amount of compensation payable in stock certificate in round number of years, shall be adjusted by deducting it from the compensation payable in cash under sub-rule (1) of Rule 75 and the interest payable on cash compensation under sub-rule (2) of Rule 75. The payment of annual interest on the stock certificate shall begin from after as many years from the date of vesting as the interest thereof is adjusted towards the interim interest aforesaid. The date from which the interest on the stock certificate will become payable shall be specified by the Compensation Officer on the indent to be made under Rule 70. The Public Debt Office, Lucknow, shall indicate this date on the stock certificate] [Added by Notification No. 3151-RS/I-A-Rev.(D)-21-D-55.]
